Nagarjuna Agri Tech Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 01/09/2025 ,inter alia, to consider and approve the following matters as ....
Awaiting price reaction for this filing.
Nagarjuna Agri Tech has called a board meeting for September 1, 2025 to consider a major acquisition: buying 14,19,068 equity shares of Allenby Food & Beverages Pvt Ltd (a related party) to make it a wholly owned subsidiary. The deal will be funded through a preferential issue of equity shares via a share swap (non-cash consideration). The board will also approve related party transactions with Allenby for taking a factory premise on lease and for using its machinery and tools. Additionally, the board plans to appoint M/s. Agarwal Khetan & Co as statutory auditors for five years, approve the FY24-25 director's report, and finalise the date and book closure for the 37th Annual General Meeting.
The proposed acquisition turns Allenby into a wholly-owned subsidiary, potentially consolidating operations and revenue without any cash outflow since it is a share-swap deal. Because Allenby is a related party, shareholder approval will be required, and minority shareholders should watch the swap ratio closely as it directly affects their ownership. Overall, the move signals a strategic restructuring rather than a routine board meeting.